2020

08.04.2020  Private Equity Holding AG

Net Asset Value as of March 31, 2020

Private Equity Holding AG / Key word(s): Monthly Figures
Net Asset Value as of March 31, 2020
08.04.2020 / 18:00
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NEWS RELEASE
Zug, April 8, 2020
Net Asset Value as of March 31, 2020
As of March 31, 2020, the Net Asset Value (NAV) per share of Private Equity
Holding AG, based mainly on Q4 2019 reports from fund investments, stood at
EUR 88.91 (CHF 94.26), representing a decrease of 1.4% in EUR (1.8% in CHF)
since February 29, 2020.
In line with the unsettled market sentiment and severe volatility in public
markets, the NAV development in March was mixed. Several portfolio positions
reported positive NAV developments, but this could not compensate for
several value impairments, particularly of listed positions, driving the
overall negative performance.
Over the course of the financial year, PEH's NAV per share increased by 7.0%
(in EUR, incl. the dividend of CHF 2 per share paid in July 2019). Due to
the sudden impact of the COVID-19 pandemic, PEH's share price closed lower
at the end of March, in line with most major indices.
Noteworthy distributions in the reporting month came from ABRY Senior Equity
IV distributing proceeds, among others, from the sale of RIMES Technologies,
a data management and regulatory technology solutions provider, as well as
from Pelion IV, distributing shares in web-infrastructure and
website-security company Cloudflare. Further distributions were received
from Alpha CEE Opportunity IV and Highland Europe II.
Private Equity Holding will resume its investor relations activities once
circumstances and official guidance allow doing so. Interested parties may
still register at info@peh.ch and will be notified.
***
Private Equity Holding AG (SIX: PEHN) is a listed investment company for
private equity investments. It offers institutional and private investors
the opportunity to participate in a simple and tax-efficient manner in a
diversified and professionally managed private equity portfolio with
selective fund and direct investments.
Income from the portfolio is partially reinvested, as well as passed on to
the shareholders as annual distributions. Private Equity Holding's portfolio
is managed by Alpha Associates, an independent Private Equity, Private Debt
and Infrastructure investment manager based in Zurich.
For further information, please contact:
Anna Knaub, Investor Relations, anna.knaub@peh.ch, phone +41 41 726 79 80,
http://www.peh.ch
The basis of the Net Asset Value Calculation and Disclaimer
The number of outstanding shares used for calculation of the Net Asset Value
per share amounted to 2,594,311 as of March 31, 2020 (February 29, 2020:
2,603,427). The calculations are prepared in accordance with International
Financial Reporting Standards (IFRS) and pursuant to the guidelines of
Invest Europe (formerly known as the European Venture Capital Association).
The valuations of the fund investments are based on the most recent reported
net asset values (NAVs) of the funds. In estimating the fair value of
unquoted direct investments, Private Equity Holding AG considers the most
appropriate market valuation techniques. The fair value of listed direct
investments is the market value. The NAV of Private Equity Holding AG is
calculated at the end of each month under a going concern assumption and
usually published within six trading days after the cut-off date. The
different reporting cut-off dates of the individual companies and funds in
which participations are held can lead to short-term distortions and cause
discrepancies between the published NAV and the actual total value of
Private Equity Holding AG's net assets.